The Nigerian naira weakened against the United States dollar on Friday, September 18, 2026, in both the Nigerian Foreign Exchange Market (NFEM) and the parallel market, widening the gap between the two rates to about ₦44 per dollar.
Vanguard reported on Friday, citing Central Bank of Nigeria (CBN) data, that the indicative NFEM rate rose to ₦1,331 per dollar from ₦1,329.56 on Wednesday, September 16. The movement represents a ₦1.44 depreciation in the naira against the dollar.
In the parallel market, the dollar was quoted at about ₦1,375 on Friday, compared with ₦1,370 on Wednesday, according to Vanguard. The ₦5 increase in the parallel-market dollar rate widened the difference between the two markets to ₦44 per dollar, from ₦40.44 on Wednesday.
The parallel-market rate is not a single fixed price and can vary according to location, dealer, transaction size and prevailing supply and demand. The reported ₦1,375 rate therefore represents the quotation reported for Friday rather than a uniform rate applicable across all transactions.
The latest movement came a day after Reuters reported on Thursday, September 17, that traders expected the naira to remain broadly stable, supported by CBN dollar sales and relatively subdued foreign-exchange demand. Reuters, citing LSEG data, put the naira at about ₦1,328 per dollar in the official market on Thursday, while street trading was around ₦1,390 per dollar.
The different daily quotations also highlight the distinction between the official market and the parallel market, where prices can move independently as available dollar supply and demand change.
For businesses and households with dollar-linked obligations, movements in the exchange rate remain significant because changes in the naira value of the dollar can affect the cost of imports, international payments, overseas tuition, travel and other foreign-currency transactions.
As of Friday, September 18, 2026, the latest reported quotations therefore put the dollar at ₦1,331 in the NFEM and about ₦1,375 in the parallel market, leaving a reported difference of ₦44 per dollar.
